Despite the market volatility, the IMX token fights against downward pressure and continues its previous upward trajectory, demonstrating unique resilience and potential decoupling from cryptocurrency correlation.
Immutable's IMX reaches $2 milestone
The trajectory of Immutable's IMX token has been characterized by a rapid and substantial increase in value since October. This upward movement reached its zenith today, when thecrypto-price-has-gone-vertical/” target=”_blank” rel=”nofollow”> The IMX token surpassed the key $2 level.
At the time of writing, IMX was trading at $2.01. up to 42% in the last seven days, show data from CoinMarketCap.
Such a peak represents a major milestone for the token, as it marks a level that has not been reached since April 2022. This extended duration underlines the importance of the current price surge, suggesting a notable deviation from the historical price trends of the token. IMX token. .
IMX seven-day price action. Source: CoinMarketCap
With a market valuation of more than $2.8 billion, Immutable X is one of the largest Layer 2 networks in the world. It is an essential network for the non-fungible token (nft) and gaming industries.
The organization has collaborated with some of the biggest names in the gaming sector in recent years. Companies like Merit Circle, Illuvium, Unity, Ubisoft and StarkWare are some of the most recognized partners.
In an effort to transform gaming on Beam in the future, the network has partnered with Merit Circle DAO and GameStop, two of the largest retailers in the United States.
IMX market cap currently at $2.599 billion. Chart: TradingView.com
To establish Transak as the “premier payments partner” for Immutable Checkout on the zkEVM network, Immutable established a new partnership with the payment processor on Monday.
Because of Immutable X's low transaction costs, ethereum-level security, fast transaction rates, and ease of use, developers love it. Plus, it contains all the tools developers need to create scalable games, including Orderbook, Marketplace, Checkout, and Passport.
IMX Price Prediction
With 18 of the 30 (or 60%) green days and 11.72% price volatility over the last 30 days, Immutable X continues to attract investor interest. Likewise, Immutable's future looks bright as 27 technical indicators are glowing green.
IMX price forecast. Source: crypto/immutable/price-prediction/" target="_blank" rel="nofollow">Coincodex
The CoinMarketCap ranking of the IMX token has increased to 29th place. The increase is a reaction to VanEck's claim that the introduction of new blockchain-based video games, such as Illuvium, which is due out next year, can increase the value of the token IMX.
Immutable has also been trying to fix many of the technological pain points that have hindered the success of Web3 games so far, according to Van Eck.
Meanwhile, Coincodex's current Immutable price prediction indicates that this week's Immutable price will drop -7.18% to $0.003929.
IMX Greed Index. Source: crypto/immutable/price-prediction/" target="_blank" rel="nofollow">Coincodex.
The technical indicators of the coin show a bearish attitude at the moment, even though the Fear & Greed index reaches 65 (Greed).
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